The Central Bank announced yesterday that it will cost US$60 million to replace all defaced currency in the Dominican Republic, once the final deadline has passed. According to an article in the Listin Diario, it costs the Central Bank US$0.20 for each bill of paper money in the RD$10, RD$20, and RD$50 denominations. The press release also said that as much as 40 percent of paper currency still in circulation is damaged or altered. In the past, the Central Bank had not prohibited this money, preferring to instead remove it gradually from circulation. The rationale behind the new procedures is unknown.
